LIC Term Assurance Plans

LIC Term Assurance Plans

This is a quick LIC plan with simple terms and conditions. This plan provides tax benefits on the premium paid and the final amount will be paid with these benefits to the nominee. This plan will offer loan after a period based on the premium you choose

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Benefits Of LIC Term Insurance Plan:

The following are the benefits of LIC term assurance plan

This insurance serves for different aged people from 18 years to 75 years

This plan provides flexibility in the mode of payments and even in the payments of the premium schedule

It claims a settlement ratio of 98%

Types of LIC Term Plans:

There are five different types of LIC plans are available as

LIC e-term

LIC Amulya Jeevan-II

LIC Anmol Jeevan-I

LIC Bhagya Lakshmi

LIC New Jeevan Mangal

Plan

Minimum Entry Age

Maximum entry age

Sum assured

Maturity period

LIC e- term

18

60

The minimum amount of 25 lakhs and no limit over the maximum amount

70 years

LIC Amulya Jeevan

18

60

The minimum amount of 25 lakhs and limit over the maximum amount

65 years

LIC Anmol Jeevan

18

55

The minimum amount of 6 lakhs and maximum amount of 24 lakhs

65 years

LIC Bhagya Lakshmi

18

55

The minimum amount of 2 lakhs and maximum of 5 lakhs

75 years

LIC New Jeevan Mangal

18

60

The minimum amount of 25 lakhs and no limit over the maximum limit

65 years

Read More About Other Plans

This is a regular non-practicing online term assurance plan that provides financial protection to your family. To be a member of this plan you should be an Indian citizen with at least 18 years of age and a maximum of 60 years. The tenure period of this plan is 10 years the premium needs to be paid annually

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Features of LIC e-term:

The minimum entry age for this scheme is 18 years and the maximum age is 60 years.

The minimum validity of the plan is 10 years and the maximum validity is 35 years

The minimum amount that needs to be assured is 25 lakhs and for non-smokers, the amount that needs to be insured is 50 lakhs there is no limit over the maximum amount that needs to be insured.

The policyholder can cover up to 1 lakh to 25 lakh

The policy can be renewed within 2 years if it has lapsed

LIC Amulya Jeevan II Plan Details:

This is a protection plan that is ideal for members who have certain wealth, accustomed lifestyle.

Eligibility Criteria For LIC Amulya Jeevan II Plan:

The minimum entry age for this plan is 18 years and the maximum entry time for this plan is 60 years

The minimum amount that needs to be assured is 25 lakhs

The maturity time for this plan is 70 years

Features OF LIC Amulya Jeevan II

There are two modes of policy terms as 5 years and 35 years

There will be a grace period of one month to the policyholders for the payment of the premiums

There are two modes for the policy payments as half-yearly and yearly

In case of death of policyholder death, the benefit will be issued

The income tax act of the country provides tax benefits on premium paid